AURORA | Annual property taxes on homes in the Cherry Creek School District are expected to slightly increase next year, while property taxes collected for Aurora Public Schools will decrease due to new mill levy rates certified by the districts’ respective boards of education last week.
In CCSD, which encompasses large swaths of southern Aurora, annual property taxes on an average residence valued at approximately $350,000 are expected to grow about $4 during the next fiscal year, according to district documents. By contrast, property taxes on a $200,000 home within the APS boundaries are estimated to decrease by about $15.71 annually, assuming constant valuation, according to APS Board of Education documents.
Boards of education across the state are required to certify new mill levies to local county commissioners each year by Dec. 15.
Aside from dollar amounts, mill rates will decrease in both districts in the coming year. Property taxes are calculated by multiplying mill rates and assessed property values.
In CCSD, the combined, state-required base and bond redemption fund mill levy rates are set to sink by about seven mills from 56.702 in fiscal year 2014-15 to 49.703 mills in fiscal year 2015-16. In APS, the mill levy rate will decrease next year by about one mill, from 67.635 to 66.648.
Sharp increases in assessed property values had significant impacts on the new rates. Assessed values of residences within APS were up 20 percent over last year, according to district documents. In CCSD, assessed values were 17.84 percent higher than they were in 2014.
However, because CCSD is one of just a few districts in the state not to have ‘de-Bruced’ or nixed revenue limits on property taxes in recent years, higher home values don’t necessarily equate to more money for that district, according to Tustin Amole, spokeswoman for CCSD.
“Although we’ve seen significant hikes in property values, we don’t retain that revenue,” Amole said. “So in those other districts, they get to keep the excess tax revenue, but what that means is their share from the state will go down and ours will remain more or less the same.”
The majority of CCSD is sandwiched between East Hampden Avenue to the north, County Line Road to the south, Watkins road to the east, and Holly Street to the west. However, portions of Cherry Hills Village to the west fall within CCSD boundaries, as well as various northern pockets which are effectively capped by Highline Elementary School off of Exposition Avenue.
Though there are many jogs, APS is roughly delineated by Yosemite Avenue to the west, East 40th Avenue to the north and East Hampden Avenue to the south. There are also large extensions of land that run along the E-470 corridor to the north and along East Jewell Avenue to the east.
To view property taxes for a specific Aurora home, residents should visit their county assessor’s website. The website of Corbin Sakdol, Arapahoe County assessor, hangs off the county website, co.arapahoe.co.us. Adams County residents should visit the website of Patsy Melonakis, Adams County assessor, at co-adamscounty.civicplus.com.